Fortis in talks to sell hong Kong & Vietnam assets: Report

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Religare

Posted By: Religare

Updated: Thursday, June 6, 2013, 10:40 [IST]

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India's largest hospital chain Fortis Healthcare may sell its Vietnam and Hong Kong units for around Rs 2,100 crore, said a media report while spokesperson of the company refused to comment on the speculations.

Media report said that Fortis which had invested about USD 665 million in September 2011 for its foray into international markets, will recover its entire investment after sale of units in Hong Kong and Vietnam and will be left with presence in only four countries.

The company is on its way to raise USD 800 million this year through divestments and equity issue as it plans to ease the debt burden which has risen to Rs 7,000 crore, the media report said.

Last month, Fortis had completed the sale of its Australian subsidiary Dental Corporation for around USD 263 million.